$2.61 Billion in Sales Expected for Sonic Automotive Inc (SAH) This Quarter

Analysts forecast that Sonic Automotive Inc (NYSE:SAH) will report $2.61 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Sonic Automotive’s earnings. The highest sales estimate is $2.64 billion and the lowest is $2.59 billion. Sonic Automotive reported sales of $2.56 billion during the same quarter last year, which indicates a positive year over year growth rate of 2%. The company is expected to issue its next quarterly earnings results on Tuesday, February 20th.

According to Zacks, analysts expect that Sonic Automotive will report full-year sales of $2.61 billion for the current fiscal year, with estimates ranging from $9.78 billion to $9.84 billion. For the next year, analysts expect that the business will report sales of $9.85 billion per share, with estimates ranging from $9.76 billion to $10.00 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Sonic Automotive.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Tuesday, October 24th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.40. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.54 billion. Sonic Automotive had a net margin of 0.70% and a return on equity of 10.47%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS.

A number of research firms recently issued reports on SAH. Zacks Investment Research raised shares of Sonic Automotive from a “sell” rating to a “hold” rating in a research report on Tuesday. Bank of America raised shares of Sonic Automotive from an “underperform” rating to a “neutral” rating and set a $23.00 target price for the company in a research report on Monday. ValuEngine downgraded shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Finally, TheStreet raised shares of Sonic Automotive from a “c+” rating to a “b” rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.67.

Sonic Automotive (SAH) traded up $1.20 on Tuesday, reaching $20.95. 554,700 shares of the company were exchanged, compared to its average volume of 505,480. The firm has a market cap of $904.95, a P/E ratio of 13.43, a PEG ratio of 3.35 and a beta of 1.57. Sonic Automotive has a 12-month low of $15.95 and a 12-month high of $27.45. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.26 and a current ratio of 1.06.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, December 14th. Sonic Automotive’s dividend payout ratio (DPR) is 12.82%.

In other Sonic Automotive news, EVP Jeff Dyke sold 8,551 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $20.10, for a total value of $171,875.10. Following the completion of the sale, the executive vice president now owns 1,262,056 shares of the company’s stock, valued at $25,367,325.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Heath Byrd sold 11,000 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $20.43, for a total transaction of $224,730.00. Following the completion of the sale, the chief financial officer now directly owns 143,306 shares of the company’s stock, valued at approximately $2,927,741.58. The disclosure for this sale can be found here. 30.29% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in shares of Sonic Automotive by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,854 shares of the company’s stock valued at $114,000 after buying an additional 878 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Sonic Automotive by 48.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,359 shares of the company’s stock valued at $182,000 after buying an additional 3,068 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Sonic Automotive by 7.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,515 shares of the company’s stock valued at $185,000 after buying an additional 624 shares during the last quarter. Laurion Capital Management LP purchased a new position in shares of Sonic Automotive during the 2nd quarter valued at approximately $203,000. Finally, Jane Street Group LLC purchased a new position in shares of Sonic Automotive during the 3rd quarter valued at approximately $260,000. Institutional investors own 64.40% of the company’s stock.

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About Sonic Automotive

Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.

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